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Gulf sovereign funds keen on Milan Expo investment

Various Middle East sovereign wealth funds are in negotiations with Milan about investing in the â‚¬14bn ($22bn) of planned infrastructure and property projects in the northern Italian city ahead of Expo 2015, the world fair that is slated to be held there.

Milan mayor Letizia Moratti, former government minister known as the Iron Lady of Italy, said that the Gulf state-backed entities could invest either in the â‚¬4bn site planned for the Expo or in projects involving metro lines, road and rail networks and the international airport at Malpensa.